An important part of learning how to scale up your practice is to know where you are financially, which then allows you to plan how to increase your income. But a lot of sex coaches don’t understand how to do an income projection. I devised a fairly simple formula for this years ago and want to share it with you now.
My Income Projection Formula
Here is a clever way to do some fast projections for income generated from your 1:1 client work.
A x B x C= D
D x 52 weeks = E
A= Number of client sessions per week (hours or however you measure the time for individual sessions)
B= Your hourly rate (what you charge per session, based on 1 session=1 hour)
C=Estimated number of contact hours over time (how many times per week X # of weeks)
D=Estimated income for client contact hours
E=Yearly client income projection
So, for example:
You estimate that you will see 5 clients 1 time per week at $200/session for a period of 10 weeks. So, for 5 clients per week, your estimated total income would be $1000/week or $10,000 for 10 weeks, based on the assumption that in 10 weeks you have completed your work with that individual client. If you amortize that, with 5 clients weekly, at that rate, your yearly income for that small amount of clients would be $52,000.
D=$10,000 for 10 weeks
➠ In this example, in 18 weeks you have paid for this Mastermind program…and you’re only halfway through it!
Here’s How Easy It Could Be to Double Your Income
Now imagine. With more clinical skills in your tool kit as a result of your participation in the Britton’s High Achievers Mastermind, you will be able to expand your market and raise prices. The going rate is not set geographically, but by your perceived value. With a global market virtually, the sky is the limit for client session pricing.
Some coaches and “experts” are charging $500-$1,000 per session with no clinical skills to speak of and no letters behind their names!
You could attract more clients with a better branded business and higher-level marketing skills, so that you could attract MORE clients, with maybe 10 clients per week. That would mean at 10 clients X $200/session, is $2,000 per week or amortized over one year would be a 6-figure income just for those 10 clients weekly at $104,000.
And that’s JUST clients on a per-session basis using a session rate of $200. You also can offer specialty workshops, client payment packages such as a 4-pak for reduced rates for paying up-front, and more options to generate even more income.
Use this formula to set your goals, up your game (and maybe your pricing for private clients) and get to see your private practice flourish.
Got it? Now, in my Britton High Achievers Mastermind we’ll be sharing tips like this every week. And, most of all, you will realize the fact that….I’ve got your back!
Til then, be happy, be well, and thrive in your genius zone.
Xo, Dr. Patti